New York Times Upgraded at JPMorgan on Improving Ad Growth, Share Buybacks

(Bloomberg) -- New York Times Co. was upgraded to
``neutral'' from ``underweight'' at JPMorgan Securities Inc. on
the prospect of improving advertising growth and accelerating
share repurchases.

``The New York Times should continue to outperform peers'
newspaper ad growth in the near term with less exposure to the
deteriorating classified advertising category,'' analyst
Frederick Searby wrote in a note to investors. Classified ads
represent 28 percent of New York Times' ad business, below the 40
percent of rival newspapers, he wrote.


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